Strategies for improving workplace productivity in Australia

26 October 2017 - 2:09pm

Productivity growth in Australia averaged 1.8 per cent a year on average from 2010 to 2016, Treasury data shows. This gradual rate leaves room for business profits to stall and for the incomes of Australian workers to fall behind the cost of living.

For those reasons, and many more, improving the productivity of your employees should be a main priority as a business decision maker. Fortunately there are a couple simple things you can do right now to start making positive changes.

What can you do to increase the productivity of your employees?

Set a foundation to improve workplace productivity

Every change begins with a small step, and improving your workplace's productivity is no exception. That's why the first thing you should consider is setting a strong foundation for your business to build upon with a corporate health insurance plan.

Industry authorities from the World Health Organisation to the OECD, all agree that healthier employees are more productive. The most recent study on the matter, a 2017 report from the University of California, found that an increased spending on wellness had a profound effect on staff productivity.

Every change begins with a small step, and improving your workplace's productivity is no exception.

In fact, the results of their case study indicate that after increasing wellness spending, employees were productive for an extra hour a month. The value of this change is not to be underestimated.

Createactionable initiatives for positive change

The modern Australian worker is more complex than the employees of generations past. That's why any efforts to improve employee productivity requires a comprehensive approach, with corporate health insurance as a starting point.

For example, offering flexible working hours is proven to increase job satisfaction and productivity. A survey by Employerbility, an Australian human resources consultancy, found that 44 per cent of employees could get work done 10 per cent faster if they were able to manage distractions and go home when they finished.

Are your employees happy and healthy?

That's why in addition to a focus on employee health, increased flexibility and independence can help boost productivity. Allowing your employees to work from home, arrive early and leave late (within reason and at your discretion) could be a part of the solution.

To find out more about what corporate health insurance could do for your business, get in touch with an expert insurance advisor here at HICA. We can tailor a corporate health plan to your organisation, so that you can minimise the costs and maximise the benefits.